ABL Aviation has arranged the JOLCO equity for another Boeing 787-8 for EL AL.
The airline has taken delivery of the aircraft financed with a $114 million loan guaranteed by UKEF. The UKEF loan was structured as a JOLCO arranged by ABL Aviation, with SBI Leasing Services providing the equity.
The transaction was part of a mandate covering two aircraft. The first aircraft was delivered to EL AL on November 27, 2019.
“We are delighted to close our third JOLCO for EL AL. This aircraft is another milestone for ABL Aviation, and we look forward to doing more transactions in the coming months.”, said Ali Ben Lmadani, CEO of ABL Aviation.
ABL Aviation is a global and fully independent asset management company with five offices around the world in Dublin, Casablanca, Hong Kong, New York and Dubai, and an established track record of sourcing and managing aviation investments for its investors. ABL Aviation’s exclusive partnership in Japan allows it to offer airlines JOL and JOLCO financing for both new and mid-life aircraft.
EL AL was established in 1948 and offers nonstop flights around the world to/from Israel. EL AL recently retired its Boeing 747 fleet and is replacing them with Boeing 787 Dreamliner aircraft. The airline has received 15 Boeing 787 aircraft and plans to receive 1 additional aircraft. EL AL currently flies to 40 destinations from Israel and serves hundreds of other cities throughout the world via codeshare and interline partnerships with many other carriers. In 2018, EL AL flew over 5.6 million passengers. EL AL embodies Israel’s values of innovation and caring and is known for its genuine Israeli hospitality.